EU Assures: New Steel Import Tariffs Will Not Harm Ukraine
Last week, European institutions officially announced a new plan to regulate steel imports, which could significantly alter the trade landscape within the European Union.
According to representatives of the European Commission, this initiative, presented on October 7 in Strasbourg, involves a dramatic reduction in existing quotas on steel imports from third countries, while doubling tariffs on shipments exceeding these quotas.
Importantly, these measures will not impact the preferential trade terms already granted to Ukraine, ensuring that its trade relations with the EU remain unaffected.
Eurocommission’s deputy spokesperson, Olof Gill, confirmed that Ukraine’s support from the European Union remains unwavering, and the proposed increase in tariffs does not conflict with existing preferential arrangements.
The primary goal of this proposal is to stabilize the EU steel market and mitigate the negative effects of overproduction on a global scale, which has posed challenges to the European metallurgical industry.
Ukraine ranks among the top ten steel import sources to the EU, and its exports have grown notably in specific market segments, especially during periods of reduced internal demand.
In 2024, Ukrainian producers have even significantly expanded their exports in key commodity categories affected by these new regulations.
The new measures will also provide Ukraine with access to duty-free tariff quotas, taking into account its status as a candidate country and the urgent security threats it faces, explained Gill.
These changes include a 47% reduction in quotas and a 50% increase in tariffs, aligning EU rates with those of the United States, which seeks to counteract excess steel capacity in China.
The ongoing crisis in the EU steel industry, exacerbated by cheap imports from Asia and global shifts, underscores the importance of these initiatives, aiming to support Ukrainian industry and balance the global steel market.